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person1990s-present

Daron Acemoglu

Disciplines:
economics
political economy

Summary

Turkish-American economist at MIT who (with James Robinson) developed the institutions-based theory of economic development — arguing that inclusive political and economic institutions are the primary determinant of prosperity.

Core Contribution

Why Nations Fail (with Robinson): the extractive vs. inclusive institutions distinction — countries fail when a narrow elite extracts resources through extractive institutions, and succeed when inclusive institutions distribute power. The Colonial Origins of Comparative Development: instruments approach to institutions — colonies where settlers could not survive had extractive institutions that persist today. Power and Progress (with Johnson): technology and AI as concentration of power.

Key Spikes & Highlights

  • Won the Nobel Prize in Economics in 2024 — awarded for his work on institutions and prosperity, validating a framework that had reshaped development economics for twenty years.

Notable Works & Achievements

Economic Origins of Dictatorship and Democracy

Why Nations Fail

Power and Progress

Historical Influences

Douglass North Samuel Huntington

Intellectual Lineage

Development Economics Political Economy

Contemporaries & Peers

James Robinson Andrei Shleifer

Minds Influenced

Development Economics Comparative Politics

Intellectual Posterity

Institutions Theory Development Economics

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